While the F-16 is a relatively older aircraft, in production since 1980's (the F-18 since 1978). It is still a very viable plane. Its small size and powerful punch still make it a very formidible aircraft.
For Pakistan, with a large aging fleet and financial constraints, such an offer should not be overlooked. I think Pakistan should actively look at picking up these surplus aircrafts from all our sources. We live in an unstable environment, where many of the rival airforces are larger. We should always be bulking up our PAF by whatever means possible.
We have become quite adept at maintaining these F-16 aircrafts since inducting them into our airforce in 1983, we managed to keep them running despite all sanctions (Pressler/Brownback etc..) and quite frankly we've learned quite alot from them and will continue to do so. We can easily apply much of this into future aircraft.
Also bare in mind that while it is an old aircraft, we also need to phase out our much OLDER fleet of F-7's and Mirage III and V's, these aircraft have been around since the 1960's. What the Mirages were in the 1980's and 1990's, the F-16 will be in the 21'st century. Our focus right now, is get rid of the Mirages/F-7's out fast. And while im a big fan of the F-17's and the F-10's, the F-16 capabilities and performance are still very exceptional even when compared to some of the newer aircraft available on the market.
The F-16 is still the aircraft of choice for many countries due to its small cross section, relatively heavy payload capacity and short take off run. Countries like Israel swear by them when wanting to perform precision bombing runs (despite the fact that the aircraft is a fighter), Turkey has an extensive assembly line.
While I agree with many here that we should never become dependent on the US for arms ever again, we should continue and aim for self-suficiency (in all spheres) and indigenization. I think we've managed a considerable amount of self-reliance in the maintenance of the F-16's. We should bulk up on this stallwark for our airforce especially when cheaper acquisitions are available. Instead of buying ''new'' much more expensive models which granted we may have to do, buying these surplus models helps save lots of money, encourages us to upgrade them(helping our local industry), increases our technological know-how on them and helps us increase our inventory. Upgrading, continuing to work on them is good and is in line with our stated plan of indigenization.
In conclusion, we should investigate this scenerio further, and if prudent, I say, scoop them F-16's up already!